Our Market Research Indicated the Following Concerns
"It really depends on the manager"Many condo management companies start with a sole owner. Unfortunately, once they move on, the quality of your service depends on their next hire because there is a limited support structure. At Converge, we utilize a proprietary database that ensures all our managers have strong tools to manage their day to day responsibilities.
"Untimely resolution of complaints and maintenance"Without a proper tracking mechanism, condo management companies struggle to track and resolve all complaints and maintenance requests. At Converge, our database ensure that all requests are flagged on our centralized dashboard so we are emailed if any tasks are not resolved in a timely manner.
"No advice is provided on the financial statements"No interpretation of the financial statements and their implications to the financial stability of the condo was provided. At Converge, we have professionally designated accountants who specialize in advising on financial health and forecasts.
"All contracting goes through related companies"There is a fear of kickbacks as many condo management companies always use the same vendors. At Converge, we offer multiple quotes on all jobs and use transparency to ensure any fear of kickbacks is removed.
"No suggestions were made from the reserve study report"
No action plans are set forth based on the reserve study report. At Converge, we update reserve fund plans annually and build the plan into our financial documents to ensure the plan is kept top of mind when making all financial decisions.